Is Lawrence Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lawrence Township has remained a Seller's Market.
Key Takeaway
Lawrence Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lawrence Township, NJ
How much do homes in Lawrence Township, NJ cost?
Median Sold Price
$434,000
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lawrence Township have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Lawrence Township was $434,000 in May 2024, up 7.4% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $157.5K | $200.5K | +27.3% |
| 2 Bedrooms | $275K | $318K | +15.6% |
| 3 Bedrooms | $400.9K | $447.5K | +11.6% |
| 4 Bedrooms | $525K | $650.5K | +23.9% |
| 5+ Bedrooms | $660K | $874.5K | +32.5% |
Summary: Lawrence Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.3%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes increased by 32.5%.
Median Sold Price Compared To Nearby Cities
| Trenton | $243.7K | $310K | +27.2% |
| West Windsor Township | $743K | $840K | +13.1% |
| Ewing Township | $305K | $340K | +11.5% |
| Princeton Junction | $835K | $914K | +9.5% |
| Lawrence Township | $404K | $434K | +7.4% |
Housing Supply in Lawrence Township, NJ
How many homes are available in Lawrence Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 97 | 95 | -2.1% |
Summary: The Lawrence Township real estate market had 95 homes for sale in May 2024, a 2.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 20 | 20 | 0.0% |
| 3 Bedrooms | 28 | 23 | -17.9% |
| 4 Bedrooms | 31 | 31 | 0.0% |
| 5+ Bedrooms | 14 | 18 | +28.6% |
Summary: The Lawrence Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 17.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 17 | -32.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lawrence Township, you could pay more than the asking price. 70.6% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Lawrence Township in May 2024, down by 32.0% month-over-month. Of the 17 sold homes, 24% were sold under asking, 6% were sold at asking, and 71% were sold over asking.
Days on Market for Lawrence Township, NJ
How long does it take to sell a home in Lawrence Township, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 19 Days | -25.9% |
Summary: Homes in Lawrence Township had an average of 19 days on market in May 2024, down by 25.9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lawrence Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 17 homes were sold in Lawrence Township; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.